GBP/AUD - Bearish Pattern, Conserving approach! Reversal Signal!
2 Take profit areas on the completion of this pattern,
Place stops behind one of the major resistance lines! looking at a 3:1 - 4:1 Reward ratio here!
All the best, will update results! As of now the STOCHASTIC(Default) is in EXTREME overbrought conditions!
RSI is also in the overbought area. > As with the pattern hitting the 127.2 and 161.8 area, this is also a key reversal point on the Fibonacci Ext.
All the best in you're trading.
CharlieFX
Place stops behind one of the major resistance lines! looking at a 3:1 - 4:1 Reward ratio here!
All the best, will update results! As of now the STOCHASTIC(Default) is in EXTREME overbrought conditions!
RSI is also in the overbought area. > As with the pattern hitting the 127.2 and 161.8 area, this is also a key reversal point on the Fibonacci Ext.
All the best in you're trading.
CharlieFX
Comment:
1st Target Hit, Cut Half Position.